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Talladega College Band from Talladega, Ala., march during the 58th Presidential Inauguration parade for President Donald Trump in Washington. Friday, Jan. 20, 2017. (AP Photo/Pablo Martinez Monsivais) more >

President Trump put a hold on all new and pending federal regulation on his first day in office Friday, with a White House memorandum ordering federal agencies to subject the regulations to review by incoming secretaries.

Rolling back federal regulation was a top campaign pledged from Mr. Trump, who promised to impose a rule that two existing regulation had to be eliminated for each new regulation created.

He has said the regulations had a stranglehold on businesses and slowed job creation and economic expansion.

The memorandum from White House Chief of Staff Reince Priebus ordered the agencies to delay sending any new regulation to the Office of Federal Register (OFR) until reviewed by the Trump-appointed secretary or director.

It ordered regulations sent to OFR but not published to be withdrawn and regulations published but not put in effect to be delayed 60 days. All of those regulations would them be subjected review by the new secretaries or their designees.

The order exempted regulations identified by the Office of Management and Budget for emergency situations or urgent “other urgent circumstances relating to health, safety, financial, or national security matters.”